Egypt completes 37 petroleum projects worth LE431B over 2 years



Thu, 10 Dec 2020 - 02:22 GMT


Thu, 10 Dec 2020 - 02:22 GMT

FILE - Zohr gas field in the Mediterranean - Reuters

FILE - Zohr gas field in the Mediterranean - Reuters

CAIRO - 10 December 2020: Egypt has executed a total of 37 development projects in the petroleum and mineral resources sector, worth total investments of LE431.3 billion, in the last two fiscal years.


Of these, 18 projects worth LE96.7 billion of investments were implemented in FY 2019/20, according to Egypt’s Minister of Planning and Economic Development Hala El-Said


A statement released this week provided a roundup of the country's petroleum sector developments over the past two fiscal years, namely FY 2018/19 and FY 2019/20.


El-Said indicated that Beheira governorate received the most in terms of investment inflows, as five projects were executed in the governorate at a total of LE 16.4 billion in investments. Suez came in second with five projects worth LE7.4 billion, followed by Alexandria with two projects at LE 3.9 billion, North Sinai with two projects worth LE 1.7 billion, and Kafr El-Sheikh with two projects worth LE 1.4 billion.


The rest of the financing was distributed across Assiut, Qaliubiya, Daqahleya, Beni Suef, Port Said, the Red Sea, and Matrouh Governorates, with one project in each governorate, at a total cost of LE 343.3 billion.


Furthermore, 14 joint projects were executed in different governorates with LE 57.3 billion of investments.


The most prominent projects include the development of the mammoth Zohr natural gas field, with a production capacity of 2.7 billion cubic feet per day; the development of the North Alexandria and West Nile Delta fields, with a production capacity of 0.7 billion cubic feet per day.


The list also includes the 128km-long pipeline project linking the Nooros gas field to Abu Madi and El Gamil treatment plants, and the establishment of the Egyptian Refining Company refinery. The latter has a production capacity of 4.7 million tons of petroleum products annually.


This came in addition to the drilling of seven wells at the West Delta Deep Marine (WDDM) phase 9B with a capacity of 350 million cubic feet per day. Marine cargo buoys with a capacity of one million barrels of crude oil per day have also been established, along with the 8.2km long marine line.


A total of 20 oil and gas pipelines, 1,014km in length, have been constructed or renewed, as well as the establishment of 14 warehouses for storing petroleum products, with a capacity of 196,000 cubic meters.


Regarding production capacity, Egypt's total production of crude oil, condensates, and liquefied petroleum gas (LPG) reached 63 million tons, 4,562 billion cubic feet of gas, 8.2 million tons of petrochemical products, along with 14.5 million tons of mineral raw materials and products.


The report added that 41.4 million butane gas cylinders were replaced with natural gas, as 141 new areas in 22 governorates were connected to the natural gas grid. According to the report, natural gas was delivered to 2.3 million housing units, 3,661 commercial consumers, and 94 factories, with 74,600 cars converted to run on natural gas.



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